Binghatti, Dubai Luxury Developer, To Introduce Inaugural Sukuk In US Dollars

Binghatti, a well-known luxury developer with headquarters in Dubai, is about to create waves in the global debt markets with the introduction of its very first sukuk denominated in US dollars. Binghatti's entry into sukuk issuance, which aims to diversify its financing base, is proof of the company's dedication to investigating novel ways of obtaining cash while upholding the standards of Sharia-compliant banking.

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Strategic Alliances And Concessions

●? Binghatti has enlisted the aid of top financial institutions in the area to help with the proposed debt transaction.

●? As joint lead managers and bookrunners, Emirates NBD, Dubai Islamic Bank, Abu Dhabi Islamic Bank, HSBC, Mashreq, Sharjah Islamic Bank, and RAKBank have been named.

●? This calculated partnership further strengthens Binghatti's standing in the financial sector by demonstrating these institutions' faith in the developer's ideas and plans.

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Launch Of Sukuk Issue

Expected to be of benchmark size, the upcoming sukuk issue will mature in three years. This historic occasion not only signifies Binghatti's debut in the international debt markets but also its dedication to sustainable growth and careful financial management. In order to bolster its financial position and get access to a varied investor base for its ambitious development initiatives, Binghatti intends to enter the sukuk market.

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Success Of Non-Deal Roadshow

●? The encouraging non-deal roadshow that Binghatti conducted in major financial centers like Hong Kong and London is indicative of the increasing interest that foreign investors are showing in the company's financial instruments and initiatives.

●? Binghatti was able to interact with fixed-income investors and present its compelling value proposition during the roadshow.

●? The encouraging response from investors throughout the roadshow highlights their faith in Binghatti's capacity to develop and maintain its financial health.

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Value Proposition And Project Portfolio

Several famous developments in Dubai, showcasing well-known brands like Bugatti, Mercedes-Benz, and Jacob & Co., are part of Binghatti's outstanding portfolio. These branded projects are the perfect example of Binghatti's dedication to providing elegance and innovation in every one of its projects.

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These showpiece projects, which have a combined project value of almost Dh16 billion, improve Dubai's skyline and solidify its position as a major international center for affluent living and business.

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Both Diversification And Growth

Along with its branded developments, Binghatti is presently working on a variety of projects totaling around Dh7.6 billion. This diverse portfolio is a reflection of Binghatti's strategic approach to serving various market groups and seizing new possibilities. Binghatti hopes to strengthen its position as the area's top developer and diversify its sources of income in order to maintain growth and profitability. To this end, it plans to add more projects to its portfolio.

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Wrapping Up!

The first-ever US dollar sukuk issue by Binghatti represents a noteworthy turning point in the company's development of global reach and financial diversity. Binghatti has a solid project portfolio and the backing of reputable financial institutions, putting it in an excellent position to take advantage of the rising demand for luxury real estate in Dubai and elsewhere. Upholding the principles of Sharia-compliant finance and providing excellent value is the company's continued commitment as it innovates and grows its worldwide footprint.